RT Outsourcing Services Ltd., an Indian portfolio company of Sonoma Management Partners, has raised $13.5 million in VC funding from New Enterprise Associates.
RT Outsourcing Services Ltd.,a SMP (Sonoma Management Partners) portfolio company, announces that it has raised Rs. 650 million from US based global venture capital firm New Enterprise Associates, Inc. (NEA) for its future growth.
Industry consolidation and greater emphasis on outsourcing has seen RT Outsourcing win more business from new and existing customers. With the investment coming in, RT will now plan to aggressively expand its presence in the automation business, high-end networking and storage systems. In addition, RT intends to enter new segments including defence, building management systems and integrated infrastructure management services.
Mr. Shammi Moza, Managing Director, RT Outsourcing said, “We have been growing rapidly over the last couple of years and with this investment we will be expanding our services lines and geographic spread through organic and inorganic means. This investment will help us continue our aggressive growth rate and expand into additional service line and offerings. Our customers have found a great value proposition in our integrated service model which has reduced their TCS (total cost of service).”
Mr. Pravin Jain, CEO, SMP said, “We wanted a partner that had significant experience in developing hi-tech, hi-growth companies. The NEA team, their network and global experience can provide the value-addition required to help guide RT’s high growth trajectory”.
Ms. Ben Mathias, Executive Director, NEA Ltd, said, “RT presents a very exciting opportunity to participate in the India growth story. RT’s leadership position in the after sales service industry coupled with its market credibility creates a compelling value proposition”.
RT Outsourcing Services Ltd. is the leading provider of after-sales services, reverse logistics, and call centre operations to most of the Fortune500 OEM & ODMs in India. The Company has grown at a CAGR of above 40% for the last 4 years and has been profitable inception in 1995. RT employs more than 3,500 people with a pan-India reach of over 200 plus locations. RT’s customers include MNCs from IT, Telecom, Electronic Security and Consumer Electronics industries. The company has also started new operations in Singapore to tap into South East Asia market.
IDFC-SSKI group acted as the exclusive financial advisors to RT outsourcing on the transaction.
About RT Outsourcing Services Limited
RT Outsourcing Services Limited is a leading player of after sales support services catering to IT, Telecom, Electronic Security and Consumer Electronics industry. RT is known to deliver global quality services for last 15 years with perceptible cost reduction in their total support cost through innovative processes and systems to its clients. RT has recently expanded its operations into South East Asia through its Singapore operations.
RT has vast experience in integrated multi-channel Technical Support help desk, Product Repair & Refurbishment Services, RMA Processing, E-Waste Management and Reverse logistics Service. RT is a professionally managed Venture capital funded organization with divisions located in multiple sites across the country. RT has proprietary custom built integrated platform for all Reverse Logistic needs, including Depot Repairs, Warranty Fulfillment Services, Technical Support Centers, Trainings, and Project Delivery.
RT is recognized for its remarkable performance and as one of the best in Reverse Logistics industry. RT has won numerous awards including, prestigious TIE Entrepreneur Excellence award during the TiEcon annual conference Oct.’2008, Deloitte Technology Fast 50 India 2008 program conducted by Deloitte Touche Tohmatsu, Asia Pacific, and Deloitte Technology Fast 500 Asia Pacific Ranking & CEO Survey 2008. Dedicated to quality, RT is ISO 9001:2000, ISO 14001:2004, ISO 27001:2005, RoHS and OHSAS 18001:2007 certified. For additional information, visit http://www.rteservices.com/
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners, and practicing its profession with the highest standards and respect. Through its affiliated funds, NEA focuses on investments at all stages of a company’s development, from seed stage through IPO. With approximately $8.5 billion in committed capital, NEA’s experienced management team has invested in over 650 companies, of which more than 160 have gone public and more than 250 have been acquired. NEA has U.S. offices in Chevy Chase, Maryland; Menlo Park, California; and Baltimore, Maryland. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing) Ltd. has offices in Beijing and Shanghai, China. For additional information, visit http://www.nea.com/
SM Partners is a mid-stage Buyout firm focused on India Based Technology Related Companies. SMP partners with existing Management Teams to achieve significant growth. We strive to build robust companies that accelerate entrepreneurial returns and provide maximum results to all stakeholders. SMP also partners with industry professionals and provides the platform, capital and entrepreneurial experience to create new companies. For additional information, visit http://www.sonomamgmt.com/